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Leases (Tables)
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Operating Lease, Lease Income

The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in Topic 842:

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

(in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Operating lease income

 

 

 

 

 

 

 

 

 

 

 

 

Fixed and in-substance fixed lease income

 

$

294,095

 

 

 

271,608

 

 

$

583,443

 

 

 

538,344

 

Variable lease income

 

 

105,930

 

 

 

93,762

 

 

 

217,133

 

 

 

192,141

 

Other lease related income, net:

 

 

 

 

 

 

 

 

 

 

 

 

Above/below market rent and tenant rent inducement amortization, net

 

 

5,449

 

 

 

5,731

 

 

 

11,037

 

 

 

12,481

 

Uncollectible straight-line rent (1)

 

 

(894

)

 

 

(423

)

 

 

(2,921

)

 

 

(823

)

Uncollectible amounts billable in lease income

 

 

(1,782

)

 

 

(1,573

)

 

 

(3,281

)

 

 

(1,959

)

Total lease income

 

$

402,798

 

 

 

369,105

 

 

$

805,411

 

 

 

740,184

 

(1)
The amounts include straight-line rent adjustments associated with converting between cash basis and accrual basis of accounting for certain leases.
Components Of Tenant And Other Receivables

The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets:

(in thousands)

 

June 30, 2026

 

 

December 31, 2025

 

Tenant receivables

 

$

31,797

 

 

 

29,578

 

Straight-line rent receivables

 

 

190,757

 

 

 

180,871

 

Other receivables (1)

 

 

69,106

 

 

 

63,413

 

Total tenant and other receivables

 

$

291,660

 

 

 

273,862

 

(1)
Other receivables include notes receivable, construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction, and other fee income.